Is buying or renting better for you?
Considering moving? Read this post first to ask yourself some crucial pre-moving questions.
Of course buying a home is an exciting process but, is dependent on many factors such as where you can afford to live, proximity to your job, future plans for your career and family, financial stability & savings.
Seattle is among cities with the highest costs of housing for both buyers and renters. Click here to see the true cost of living in Seattle. According to Zillow the median rent price for a one-bedroom apartment is $1,945, while the median home value for a three-bedroom home is $750,000. These costs only increase the closer you get to the city center and employment hubs.
Questions to ask yourself when considering buying a home or condo versus renting:
Will I be comfortable here for the next 5 to 10 years?
Do I plan to have any additions to my family?
Am I comfortable with my job?
Meaning, do you foresee yourself making any big career moves within the next 5 to 10 years?
Am I comfortable with the debt and mortgage that comes along with purchasing a home?
Am I comfortable taking on cost and burden of maintenance and repairs a home needs over time?
To read a more detailed guide of renting versus buying click here.
To read more articles about Curbed Seattle’s moving guide click here .